On January 1, 2021, Wilke Corp. had 480,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the common stock account. February 1Issued 120,000 sharesMarch 1Issued a 10% stock dividendMay 1Acquired 100,000 shares of treasury stockJune 1Issued a 3-for-1 stock splitOctober 1Reissued 60,000 shares of treasury stockInstructionsa. Determine the weighted-average number of shares outstanding as of December 31, 2021.b. Assume that Wilke Corp. earned net income of $3,456,000 during 2021. In addition, it had 100,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2021. Compute earnings per share for 2021, using the weighted-average number of shares determined in part (a).c. Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2021.